Annual financial demands grow as businesses expect more from accrual vs cash accounting. To keep up with everything, it helps to know the different terms. Accrual vs cash accounting will be the most important terms and will have a major influence on your strategies. Why It Matters Stress is a reality when you don’t understand…
Sphere of influence Definition The “seven domains of society” (also known as the “seven sphere of influence”) is a term that refers to the numerous aspects of life that come together to form society as we know it. The word started in the religious realm (the church) and has become more commonly used as non-religious…
Tax laws can be complicated, but you need to make the right decisions when choosing your options as it could prove to be costly if you make the wrong choice. When looking at the differences and similarities between C corp vs S corp, it pays to have a basic understanding of IRS rules so that…
There are lots of opportunities to potentially make money by buying and selling stocks on a daily basis but you might be someone who has not entered the world of day trading yet because you are not sure how to apply the right principles and procedures to improve your chances of success. Learning how to…
The cost of inventory can weigh heavily and have an adverse impact on the profitability and performance of a business, which is why economic order quantity (EOQ) is a formula that is well worth getting to grips with as it helps you identify the optimum amount of stock that should be ordered each time in…
No matter what language is used to describe you losing your job, it will always remain an uncertain and stressful time. It can be upsetting and worrying at the best of times, and it’s easy to let your mind run loose with all the negative possibilities of what’s going to happen next. However, learning the…
When it comes to employability and opening the door to as many opportunities as possible it is abundantly clear that displaying strong work ethics is one of the main attributes to develop if you want your career to enjoy an upward trajectory. Developing a reputation for being a worker who is dedicated, reliable, and disciplined…
Contingent liabilities are unfavorable possibilities that can occur in a company in the future. They’re not guaranteed to happen but, they could. Some of the more common liabilities include lawsuits, product recalls, government investigations and guarantors. But when you know how to read between the lines of a company’s accounting you are in a better…
The billionaire list keeps growing, with each year introducing new and fresh faces. It’s so competitive, that the youngest billionaire in the world changes monthly. Building up to the first billion is difficult, and requires a lot of smart financial decisions. This list is made up of the smartest young billionaires that took the world…
As a business owner, there are several terms that should be in your vocabulary. Assets and liabilities rank near the top, and will often appear together. To improve the financial health of your company, both of these terms need a full understanding. Before you dive head first into the intricacies of a balance sheet, learn…
